Replies to post #380099 on SPDR S&P 500 (SPY)

[DarkPool]

Some people alive today might not ever see these highs again.

[imiloa]

yeah, i used to think markets should be rational, too.
and that P/Es should be sane...
and that spiraling national debt should be a factor...
and things like ww3 should hamper rallies...
etc...

if you scroll back a decade+ on this forum,
you'll see me preaching SPY 300 as innately overvalued,
citing all manner of market metrics,
signs of declining economic stability
(which have played out 😢), etc...

but SPY just kept going up
and up
and up
and up
because they can.

empirically, it's clear that reality doesn't matter.
and hasn't for the past 3 decades,
back to the heady dotcom 90s.

imo, there will be some manner of reckoning at some point.
but that might not happen until the usa economy implodes entirely.
eg: from civil war (maybe this year 😢),
ww3 attacks on usa soil (could happen any day now 😢),
annual interest on national debt exceeding annual IRS revenue,
etc...

remember when yahoo was trading at 450
and then, not long after, at 7...

so yeah, usa markets could implode any given day.
which is why i rarely hold calls overnight ever anymore.

but until that eventual implosion,
the only thing that matters
is what makes the casino the most profit each day.

and today, that script was:
bot run to 482, maybe more.

and this, despite today being monthly op-ex
with today's max pain @ 460, 4.5% lower.